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Valuable property with large gardens with multiple fruit trees, and a very successful, top rated, hotel business in Costa Rica. 1,100 m2/12,000sq.ft. building with 15 bedrooms / 15 bathrooms and large living rooms on a plot of 2,500m2/27,000sq.ft. with fantastic views over the central valley and San Jose.
Due to our family situation, we are currently looking to leave Costa Rica for a few years, and have therefore had to put our hotel up for sale.
The business is an established hotel with a history dating back to 1994. The current owners, have made large investments in modernising the building and hotel as well as adding a scenic pool with exceptional views over the city. The hotel boasts top reviews on various travel sites, including Expedia/Hotels.com, booking.com/Priceline, Tripadvisor, Airbnb, and on Google, and has been very profitable in recent years, with a wide client base, consisting of tourists, local expatriates, locals, and a growing number of dental/medical tourists.
-As opposed to beach hotels in Costa Rica, the hotel enjoys stronger year around demand, with several sources of revenue - not just international tourism. The hotel has therefore managed to stay fully operational and also generate a profit even through the current difficult times of Covid-linked travel restrictions, helped by a growing popularity among locals, and also local-expatriates (expats in other parts of Costa Rica using the hotel as a base when traveling or conducting business in the San Jose area).
The hotel generally runs on its own, with current owners living on site and helping if/when there are any issues and spending time talking/discussing with the global travelers we normally cater for. Although the current owners naturally have been busy with the building up of the business and the refurbishing of the property and constructing additions, there has also been ample time for a full time side job, completing a pHd, and raising two children. Owners also normally spend 2-3 months away from the property per year, leaving the property in the hands of the employees. As such, the hotel is a great opportunity for someone to have as a rewarding side project, or an interested buyer can also involve her/himself more in the business and day to day chores to lower running costs or further boost business if desired.
We believe the business still has room to grow and an engaged owner has many opportunities. This includes expanding offerings to guests, such as having a souvenir/snack shop, offering more meals, and having the bar open regularly. We also believe there is room to grow the business through greater focus on marketing (current owners have generally just let the property market itself through reviews / word of mouth),
The building as it is today is also flexible, and new owners can for instance easily convert the current owners´ apartment into 2-3 additional rooms and live off-site, or if desired, make the main parts of the hotel their own 6 bedroom apartment with huge living space, and still have two large studios with full kitchen, two small studios and a small apartment, in addition to the current owners´apartment to rent out. The latter is an option that could be considered if an owner does not want to have a reception etc, and for instance just rent out long term through Airbnb. The building itself can also potentially be expanded, for instance through the addition of a second floor.
-At the moment, the lot has a total area of 2,500m2/27,000sq.ft., and a constructed area of 1,100m2/12,000sq.ft. Apart from the 11 hotel rooms with bathroom, the owners´apartment has three bedrooms and two bathrooms; in addition there is a small receptionist´s room (with kitchen and bathroom), a hotel laundry room and hotel kitchen, a guest laundry room, employee´s bathroom, several bodegas/storage rooms, a garage and there is also parking for an additional 7-8 cars. The gardens are filled with decorative flowers, and many fruit trees and edible plants, including lemons, oranges, mandarines, bananas, plantains, avocado, chile plants, sugarcane, aloe vera, and various herbs, with plenty of room to grow more.
Although a sale is preferred, we could potentially also discuss alternatives to buying, such as renting the business/hotel, or purchasing the business and renting property under a long term agreement. Please do not hesitate to write for more information, we would be happy to discuss and/or provide further details.
Real Property Included
The property has a 3 bedroom / 2 bathroom owners´apartment.
Scenic property on a hill in Bello Horizonte, Escazu, overlooking San Jose.
Second floor could be added. Current owners´ apartment could be converted to 2-3 additional rooms or rented out as is.
Other hotels are competitors, but hotel mainly competes with smaller boutique hotels in the area. The hotel is a very strong competitor in this segment, as it is larger and can offer more amenities and services.
Leaving Costa Rica due to family situation.
Current owners will do their best to get new owners started. Also the staff has long experience and will be a very helpful resource for new owners.
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